ADMS 1000 Final: Econ 1000 3.0 final exam.pdf

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: All

Document Summary

Instructions: this examination consists of seventy (70) multiple choice questions. No penalty for wrong answers: circle your final choice for every question on each page of the exam and carefully mark the letter you have chosen on the computerized answer sheet. Use hb pencil only: time allowed: 120 minutes. (2 hours) Economics 1000 3. 0 m winter j. paschakis: suppose the marginal product of energy is less than the average product of energy. Figure 10. 5: refer to figure 10. 5, which illustrates short-run average and marginal cost curves. Use the figure below to answer the following question(s). lrae. Figure 10. 9: refer to figure 10. 9, which illustrates the long-run average total cost of production when there is an infinite number of plant sizes and output ranges. An individual firm is producing the output at which mc . Figure 11. 5: refer to figure 11. 5, which represents the short-run production decision of a perfectly competitive firm.